AIA (01299.HK): Nine-Month NBV US$4.63bn; Q3 Down 5% Year on Year

NewTimeSpace News: On 30 October 2026, AIA Group Limited (stock codes: 1299 and 81299) published its new business summary for the third quarter ended 30 September 2026, with growth rates stated at constant exchange rates.

For the first nine months of 2026, new business value rose 5% to US$4,627 million, driven by growth in all reporting segments except Thailand. Third-quarter NBV fell 5% to US$1,415 million, mainly reflecting exceptionally high bases in Hong Kong and Mainland China in July and August last year. Group NBV returned to growth in September, rising more than 25% year on year. The third-quarter NBV margin rose 5.3 percentage points to 63.5%, annualised new premiums fell 13% to US$2,237 million and total weighted premium income rose 7% to US$12,892 million.

By market, Hong Kong NBV fell 3% in the quarter but grew 20% year on year in August and September combined; Mainland China fell 33%, reflecting the high base when customers bought ahead of the industry repricing on 1 September 2025; Thailand rose 9%, Singapore 22% and Malaysia 10%, while other markets rose 14%, partly offsetting the declines in Hong Kong and Mainland China.

The Company expects to exceed its target of 9% to 11% compound annual growth in operating profit after tax per share from 2023 to 2026, and estimates that a parallel 50 basis point rise in the US yield curve would reduce embedded value at 30 June 2026 by about 1%.